The Nifty, which started on a muted note on Thursday, failed to keep the momentum going and slipped below its crucial short-term moving averages, making a bearish candle on the charts.

The index broke below its crucial support, placed at around its 100-days exponential moving average (DEMA) of around 10410, 13-DEMA, and 5-DEMA. It opened at 10,405 and rose marginally to hit its intraday high of 10,420, before bears took control. Selling pressure took the index to its intraday low of 10,346 and it ended the session 50 points lower at 10,360.

The India VIX fell by 0.22 percent during the session to 14.33\. The IVX, which is an indicator of volatility in the market, should ideally decline below 13-13.50 for the Nifty to extend its recent rebound.

The Nifty closed at 10,360.20 on Thursday. According to Pivot charts, the key support level is placed at 10,330.93, followed by 10,301.67\. If the index starts moving upwards, key resistance levels to watch out are 10,404.73 and 10,449.27.